The financial sector has an important role to play in supporting the transition to a low-carbon economy and at Barclays, we are determined to play our part consistent with our Purpose and relevant business and risk considerations.
In March 2020, we announced our ambition to be a net zero bank by 2050, becoming one of the first banks to do so. We made it clear at the time that we would approach the climate challenge thoughtfully and transparently, engaging with our shareholders and other stakeholders and reporting our progress.
We have a three-part strategy to turn our net zero ambition into action. Over the coming years, our strategy will continue to evolve and adapt to reflect external factors affecting the shape and timing of the transition to a low-carbon economy.